Rabigh Refining & Petrochemical Company (Petro Rabigh) in a bourse statement revealed the financial completion for the Rabigh Project phase 2 expansion on September 30, 2020, as required by lenders. The completion highlights Petro Rabigh’s ability to fulfil its financial obligations using its operational revenue. Previously, the company passed the Creditors Reliability Test and a reliability test for the utilities of the expansion project with an initial production rate of 99%.
The phase 2 of the Rabigh Project was announced in 2009. It will expand Petro Rabigh annual production capacity to 15 million tons of petroleum products and 5 million tons of petrochemical products, including low-density polyethylene, paraxylene, benzene, ethylene vinyl acetate, ethylene-propylene rubber, polyamide PA6, thermoplastic olefin, polymethyl methacrylate, phenol, and acetone.
